Brokerages Set Algonquin Power & Utilities Corp. (NYSE:AQN) Price Target at $6.13

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has earned an average rating of "Hold" from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.13.

Several research analysts have recently commented on AQN shares. Scotiabank decreased their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating for the company in a report on Friday, November 8th. CIBC decreased their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Wells Fargo & Company cut their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Wednesday, October 16th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $6.00 price objective on shares of Algonquin Power & Utilities in a research note on Friday, October 11th.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of hedge funds have recently modified their holdings of the stock. Capstone Investment Advisors LLC bought a new position in Algonquin Power & Utilities in the 3rd quarter worth approximately $58,000. Walleye Capital LLC bought a new stake in Algonquin Power & Utilities during the 3rd quarter worth approximately $59,000. SVB Wealth LLC acquired a new stake in Algonquin Power & Utilities during the 4th quarter valued at $49,000. Verdence Capital Advisors LLC bought a new position in Algonquin Power & Utilities in the 3rd quarter valued at $61,000. Finally, Raymond James Trust N.A. lifted its position in Algonquin Power & Utilities by 33.4% during the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider's stock worth $73,000 after buying an additional 3,343 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Down 1.4 %

Algonquin Power & Utilities stock traded down $0.07 during midday trading on Monday, hitting $4.51. The stock had a trading volume of 7,106,556 shares, compared to its average volume of 8,351,057. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average price of $4.50 and a 200 day moving average price of $5.02. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.79. The stock has a market cap of $3.46 billion, a P/E ratio of -3.49 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. During the same quarter last year, the business earned $0.11 earnings per share. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts predict that Algonquin Power & Utilities will post 0.38 EPS for the current year.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.